Published: October 21, 2005
Additional Property Acquisition in Owl Creek Prospect
Brinx Resources Ltd. (OTC BB: BNXR) (the
"Company" or "Brinx") is pleased to announce the acquisition of an
additional 291 acres in the Owl Creek prospect in Oklahoma. The acquisition
increases the new leasehold position in the project to over 1,100 acres.
Brinx Resources owns a 70% undivided working interest in the Owl Creek
prospect (See www.BrinxResources.com).
The acquisition of additional acreage in the Owl Creek Prospect expands
Brinx's presence in the region as the Company continues to search for, and
develop its existing oil and gas projects. The initial phase of the project
is to complete a two-well re-entry program of the Johnson No. 1 and the
Powell No. 1 wells, located near the town of Paoli, Oklahoma. Neither well
has been completed but log analysis indicates both have potentially
productive zones that were not previously tested.
Examination of the Owl Creek leased acreage using proprietary exploration
systems such as newer 3-D seismic data indicates these two wells, located
over a mile apart, are on a structural nose or high that may be part of
large un-drilled field. Should this field exist there is a potential that
some of the future wells would have additional pay zones. In the Johnson
well not only do the logs show productive zones but the mud log indicates
significant gas anomalies in these zones. A mud log was not run on the
Powell well, but electric logs indicate that it may also be productive.
By way of modern technology, combined with historical data, Brinx expects a
substantial economic opportunity exists to locate new fields as well as to
recover additional oil and gas reserves. The Company is also investigating
additional energy-related opportunities on an ongoing basis.
For more information please visit WWW.BRINXRESOURCES.COM or contact
Tydewell Consulting at 1-888-32-BRINX (27469).
Mr. Leroy Halterman,
President
The Company has no official gas or oil reserves at this time and may not
have sufficient funding to thoroughly explore, drill or develop its
properties. Statements which are not historical facts are forward-looking
statements. The Company makes forward-looking public statements concerning
its expected future operations, performance and other developments. Such
forward-looking statements are necessarily estimates reflecting the
Company's best judgment based upon current information and involve a number
of risks and uncertainties, and there can be no assurance that other
factors will not affect the accuracy of such forward-looking statements. It
is impossible to identify all such factors but they include and are not
limited to the existence of underground deposits of commercial quantities
of oil and gas; cessation or delays in exploration because of mechanical,
operating, financial or other problems; capital expenditures that are
higher than anticipated; or exploration opportunities being fewer than
currently anticipated. Factors which could cause actual results to differ
materially from those estimated by the Company include, but are not limited
to, government regulation, managing and maintaining growth, the effect of
adverse publicity, litigation, competition and other factors which may be
identified from time to time in the Company's public announcements and
filings.
Distributed by Market Wire
Copyright © 2010, MarketWire
Copyright © 2010, NewsBlaze,
Daily News
Tags: ,Energy and Utilities:OilandGas, EnergyandUtilities:Utilities, ,NM,ALBUQUERQUE, NM